Loan for the unemployed and indebted – only in the non-bank segmentOn December 27, 2019 by admin
For a long time, unemployment has remained below 10 percent. There are even fewer people without work because some of them work black. Consumers without registered income will not receive a bank loan.
In the article below you will learn why loan companies do not discriminate against people without work.
Why do loan companies grant loans to the unemployed?
The level of unemployment has reached the lowest level in years. According to the Central Statistical Office, the number of people without work is 7.1 percent. It is worth noting that a large proportion of the unemployed have unregistered income that comes from black work. Consumers without formal employment cannot apply for a bank loan. Moreover, banks usually only honor an employment contract of unlimited duration. On the other hand, loan companies respect all forms of employment.
Some non-bank institutions grant loans without income certificates. In such situations, consumers must prove liquidity. Usually, it is enough to share the history of operations on external receipts or paid utility bills. Also with relatively low loans, unemployment benefits can be honored up to several hundred dollar.
Of course, a person without any income will not benefit from non-bank sector products. For a simple reason – such as a consumer does not have sufficient funds to repay the commitment.
Loans without BIK for the indebted
The data of the Credit Information Bureau are clear – almost half of adult people repay a loan . It is worth noting that such consumers have a difficult way to use other products of the non-banking sector – eg payday loans or flat line loans.
Because, according to the bank, charged borrowers will not pay their debts. Doing so can be harmful, because with small amounts of installment loans, repayment should not be a problem. Therefore, a large proportion of people decide to offer the non-banking segment.
Interestingly, there are companies on the market that specialize in online loans for those in debt. In such cases, very often lenders require a surety.
Important – people interested in financial products should be aware that loans without BIK do not exist. Even if a given institution does not cooperate with the Credit Information Bureau, there is a high probability that it uses ERIF, KRD etc. databases.
Why doesn’t Lite lender require an income certificate?
Lite lender does not require income certificates for both car loans and vehicle collateral. This is because the loan is secured by an auto.
At the time of the commitment, the customer is required to enter the registration certificate of the loan company as a co-owner of the car. If the borrower defaults, Lite lender takes ownership.